Very few lights other than European ones include reflectors. The European ones generally do because reflectors front and rear are required by law in Germany as are lights. Easiest to combine the two in one unit. Unfortunately though blinking lights are uncommon due to being forbidden in some European countries as blinking lights are only allowed on emergency and police vehicles.

I personally intend to combine a European dynamo taillight, with reflector, and a battery operated blinking light such as the Dinotte, Radbot or Cateye 1100. Personally I am not sure how much the blinking adds to bicycle safety. Auto and motorcycle taillights do not blink and in fact I am not sure if blinking ones would be legal while driving. Auto 4 way flashers are for when stopped for an emergency.